Welcome to our dedicated page for ZK International Group news (Ticker: ZKIN), a resource for investors and traders seeking the latest updates and insights on ZK International Group stock.
ZK International Group Co., Ltd. (ZKIN) generates a diverse stream of news as a China-based engineering company focused on high-performance stainless steel and carbon steel pipe products for water and gas pipeline systems. Its press releases and SEC-furnished announcements cover operational performance, infrastructure projects, capital markets activity, and technology initiatives.
Investors following ZKIN news will find regular financial updates, including earnings results for fiscal years and interim periods. These releases discuss revenues, gross profit, margins, operating loss, and net loss, along with commentary on factors such as demand for piping products, conditions in the real estate market, and raw material costs like nickel used in stainless steel.
The company also issues project and contract announcements. For example, it has reported that a subsidiary secured a centralized procurement project for thin-walled stainless steel pipes to be used in public health drinking water systems, highlighting applications in direct drinking water projects and the role of 304-grade thin-walled stainless steel pipes and fittings.
ZK International’s news flow includes corporate and capital markets developments such as a 1-for-7 reverse stock split of its ordinary shares, the resolution of a Nasdaq bid price deficiency, private placements of ordinary shares to non-U.S. investors, and the adoption of an equity incentive plan. Board and management changes, including director appointments and executive transitions, are also disclosed through Form 6-K filings and related announcements.
In addition, ZKIN publishes technology and digital asset updates through its subsidiary xSigma Corp., including plans for xSigma Wallet, a crypto banking wallet, and initiatives to accept cryptocurrency payments, including Bitcoin, for transactions with suppliers, vendors, and customers. For investors and observers, the ZKIN news page provides a consolidated view of these earnings reports, project wins, governance changes, and fintech initiatives in one place.
ZK International Group (Nasdaq: ZKIN) announced a joint venture with Altfunding, LLC, to create 'xSigma Lending.' ZKIN will own 51%, while Altbanc will hold 49%. The $2 million deal aims to boost Altbanc's business and provide income for ZKIN shareholders. A $1.5 million investment will fund a fixed-income token sale to refinance merchant cash advances (MCAs). This partnership will enhance ZKIN's exposure to distressed businesses, aligning with growing cryptocurrency markets, as Bitcoin and Ethereum reach record highs.
On April 5, 2021, ZK International Group Co., Ltd. (Nasdaq: ZKIN) appointed Susan Kilkenny as Senior Strategic Marketing Advisor for its subsidiary, xSigma Entertainment Limited. Kilkenny brings a wealth of experience from her role at Maxim Media and has a successful track record in brand development for luxury brands. This strategic addition aims to enhance xSigma Entertainment's growth in online gaming and related sectors. The company also announced a $50 million financing commitment to MaximBet to expand its U.S. operations as part of its growth strategy.
ZK International Group (Nasdaq: ZKIN) has announced a $50 million Series A funding round led by its investment in CG Malta Holding Limited (CGM) to launch MaximBet.com, a sports betting and casino platform. The initial $15 million closing gives ZKIN a 12% stake, with a second closing anticipated for Q2 to raise its ownership to 25%. This venture aims to capture a significant portion of the U.S. online gambling market, projected to reach $10 billion by 2025. ZKIN also recently formed its subsidiary, xSigma Entertainment, to acquire online gaming assets and enhance shareholder value.
On March 30, 2021, Ortoli Rosenstadt LLP announced that they represented ZK International Group Co., Ltd. (Nasdaq: ZKIN) in a registered direct offering totaling $18 million. The offering involved the issuance of 4 million shares under a previously filed shelf registration statement with the SEC. The transaction was finalized on or around March 25, 2021, generating gross proceeds of approximately $18 million.
ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, appointed Arpan Sood as the new CEO of xSigma Trader. This move aims to develop and launch a new trading platform for crypto, crypto derivatives, and CFDs. Sood brings over 20 years of finance experience, enhancing the company's strategic position in the growing cryptocurrency derivatives market, which reached $2.159 trillion in trading volume in Q2 2020, up 165.56% year-on-year. The xSigma Trader platform is now live for user engagement.
ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced the formation of a new wholly-owned subsidiary, xSigma Entertainment Limited, aimed at acquiring online gaming assets. This strategic move is intended to enhance shareholder value by targeting growth industries, particularly in the U.S. online gaming market, which is poised for substantial expansion. With the U.S. betting market expected to reach between $5.9 billion and $8.2 billion by 2024, ZKIN aims to leverage ongoing legislative changes favoring gaming. Recent favorable indicators from the Biden administration further bolster this initiative.
ZK International Group (ZKIN) has secured a two-year Strategic Procurement Agreement with Guangyuan Natural Gas Supply Group for its municipal natural gas supply infrastructure program in Western China. The selection followed a competitive bidding process focusing on production quality, manufacturing capacity, and financial stability. ZK International's Chairman, Jiancong Huang, expressed enthusiasm for the partnership, which aligns with the company's goal to expand its market presence. This agreement is significant as ZK International prepares to capitalize on China's $850 billion commitment to water quality improvement.
ZK International Group Co. Ltd. (Nasdaq: ZKIN) has announced that its subsidiary, xSigma Corporation, will launch an NFT marketplace, tapping into the rapidly growing $1.3 billion NFT industry in 2021. The platform will support multiple blockchains, including Ethereum and Polkadot, facilitating the buying, selling, and creation of NFTs. xSigma aims to attract artists and celebrities, building on its prior success with a DeFi project that generated $100M in total value locked. The NFT platform is expected to launch in Q3 2021 as part of xSigma's larger blockchain ecosystem.
ZK International Group Co., Ltd. (Nasdaq: ZKIN) announces the roadmap for its xSigma DEX, which recently launched and currently has $110 million in locked value and $6 million in trading volume. Key initiatives include marketing strategies to attract users, deploying a second stablecoin pool by April 2021, and a gas cashback program. The company plans to fulfill community promises by burning unminted tokens and introducing a DAO governance model. Chairman Jiancong Huang expressed gratitude for community support in building a decentralized exchange.
ZK International Group (Nasdaq: ZKIN) has secured a three-year Strategic Procurement Agreement with Fuzhou Water Supply Group to upgrade municipal water supply infrastructure in Fuzhou, China. This agreement follows the city's mandate to replace plastic and galvanized piping with stainless steel to enhance water quality. With a population of approximately 7.74 million, Fuzhou aims to improve its water supply for around 310,000 households. This contract positions ZKIN favorably within the $850 billion government initiative to enhance China's water quality.